Apellis Pharmaceuticals (NASDAQ:APLS) Receives New Coverage from Analysts at Royal Bank of Canada

Royal Bank of Canada began coverage on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a report published on Friday morning, Marketbeat.com reports. The firm issued a sector perform rating and a $25.00 price objective on the stock.

Several other analysts also recently weighed in on APLS. Mizuho dropped their price target on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday. HC Wainwright lowered their target price on Apellis Pharmaceuticals from $92.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $85.00 target price on shares of Apellis Pharmaceuticals in a research note on Friday, September 20th. Scotiabank initiated coverage on Apellis Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $35.00 target price on the stock. Finally, Wells Fargo & Company lowered their target price on Apellis Pharmaceuticals from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.41.

Apellis Pharmaceuticals Stock Down 3.3 %

Apellis Pharmaceuticals stock opened at $26.68 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08. The business’s 50-day simple moving average is $33.22 and its two-hundred day simple moving average is $38.63. The company has a market cap of $3.24 billion, a PE ratio of -7.71 and a beta of 0.87. Apellis Pharmaceuticals has a fifty-two week low of $26.28 and a fifty-two week high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.03. The business had revenue of $199.70 million for the quarter, compared to the consensus estimate of $190.89 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The company’s quarterly revenue was up 110.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.02) EPS. Equities analysts anticipate that Apellis Pharmaceuticals will post -1.37 EPS for the current year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the completion of the transaction, the director now owns 100,000 shares of the company’s stock, valued at $3,623,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Apellis Pharmaceuticals during the first quarter valued at approximately $3,218,000. Edgestream Partners L.P. acquired a new stake in shares of Apellis Pharmaceuticals in the first quarter valued at approximately $942,000. Envestnet Asset Management Inc. increased its holdings in shares of Apellis Pharmaceuticals by 42.2% in the second quarter. Envestnet Asset Management Inc. now owns 134,536 shares of the company’s stock valued at $5,161,000 after purchasing an additional 39,931 shares during the last quarter. Profund Advisors LLC increased its holdings in shares of Apellis Pharmaceuticals by 90.7% in the second quarter. Profund Advisors LLC now owns 42,968 shares of the company’s stock valued at $1,648,000 after purchasing an additional 20,435 shares during the last quarter. Finally, Algert Global LLC increased its holdings in shares of Apellis Pharmaceuticals by 137.8% in the second quarter. Algert Global LLC now owns 123,628 shares of the company’s stock valued at $4,742,000 after purchasing an additional 71,650 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. It offers EMPAVELI for the treatment of paroxysmal nocturnal hemoglobinuria, C3 glomerulopathy and immune complex membranoproliferative glomerulonephritis, and hematopoietic stem cell transplantation-associated thrombotic microangiopathy; and SYFOVRE for treating geographic atrophy secondary to age-related macular degeneration and geographic atrophy (GA).